Scottsdale's Tourism Industry Fuels $3.7 Billion Economic Surge in 2024

Scottsdale's tourism sector experienced a remarkable upswing in 2024, injecting nearly $3.7 billion into the local economy.

 

According to recent reports, the city welcomed over 11 million visitors last year, with 1.7 million being international overnight guests.

 

This influx represents an increase of more than 300,000 visitors compared to 2023, highlighting Scottsdale's growing appeal on the global stage.

 

Local businesses reaped significant benefits from this surge.

 

Overnight visitors directed 55% of their retail spending to Scottsdale-based shops, while 59% of day-trippers chose to support local establishments.

 

Major events played a pivotal role in this economic boost.

 

WestWorld, the city's largest indoor/outdoor venue, contributed nearly $163.6 million to Arizona's economy between October 2023 and June 2024.

 

Additionally, the WM Phoenix Open and the Barrett-Jackson Collector Car Auction attracted substantial crowds, further enhancing Scottsdale's economic landscape.

 

Rachel Sacco, president and CEO of Experience Scottsdale, emphasized the city's enduring appeal, stating that the year-over-year economic impact "speaks to the strength of Scottsdale's brand."

 

Despite a slight decrease in the percentage of domestic overnight visitors staying in resorts and hotels from 87% in 2023 to 79% in 2024 the average occupancy rate remained steady at 65%.

 

Looking ahead, Scottsdale anticipates continued growth in tourism revenue.

 

The city projects a $600,000 increase in Bed Tax revenue for 2025, expecting to reach $32 million.

 

This optimistic outlook is bolstered by upcoming events and the city's ongoing efforts to enhance its attractions and services.

 

In 2024, Scottsdale also saw significant developments in its hospitality sector.

 

The opening of the Caesars Republic Hotel adjacent to Scottsdale Fashion Square marked Caesars Entertainment's first non-gaming property in the United States.

 

This 11-story hotel features 265 guestrooms, two pools, and three restaurants, adding to the city's allure for both leisure and business travelers.

 

Furthermore, the introduction of award-winning Japanese restaurant Uchi in Old Town Scottsdale has enriched the city's culinary scene, offering unique flavor combinations and a seasonal omakase menu.

 

These developments, coupled with Scottsdale's diverse cultural offerings and events, continue to position the city as a premier destination for visitors worldwide.